Dhanalakshmi Bank
Encyclopedia
Dhanlaxmi Bank Ltd is an old private sector bank headquartered in Thrissur
city, Kerala
, the "Cultural Capital of Kerala". It is headed by Amitabh Chaturvedi, Managing Director and CEO of the bank. The bank was focusing mostly on Southern states like Karnataka
, Tamil Nadu
, Andhra Pradesh
and Kerala
but it is looking for a pan India presence since the last few years. In 2009, the bank started a brand transformation initiative which included the change of the logo and related branding treatment across all its customer touch-points.
, Karnataka
, Andhra Pradesh
, Maharashtra
, Gujarat, Delhi
, West Bengal, Madhya Pradesh, Punjab, Uttar Pradesh, Rajastan, Chandigarh, Goa, and Hariyana. Current employee strength is around 4400
Dhanlaxmi Bank has deployed technology widely as an instrument for enhancing the quality of customer service. It has introduced Centralised Banking Solution (CBS) on the Flexcube Platform at all its branches for extending anywhere/anytime/anyhow banking to its clientele through multiple delivery channels. The bank has set-up a state-of-the-art Data Centre in Bangalore, to keep the networked system operational round the clock. A Disaster Recovery Centre is also operational at Thrissur
for meeting various contingencies.
in India. The company, headquarters in Mumbai, has become a commander & preferred solutions provider for bankers in India and Overseas.
ISG influence its domain knowledge in payment processing & skilled software development talent to specific compliance and other requirements of various types of organizations including Public Sector Banks, Private Banks, Foreign Banks, International Banks, Cooperative Banks and Non-Banking Finance Companies in world wide. ISG takes pride in building strategic long term relationships.
Thrissur
This article is about the city in India. For the district, see Thrissur district. For the urban agglomeration area of Thrissur see Thrissur Metropolitan Area...
city, Kerala
Kerala
or Keralam is an Indian state located on the Malabar coast of south-west India. It was created on 1 November 1956 by the States Reorganisation Act by combining various Malayalam speaking regions....
, the "Cultural Capital of Kerala". It is headed by Amitabh Chaturvedi, Managing Director and CEO of the bank. The bank was focusing mostly on Southern states like Karnataka
Karnataka
Karnataka , the land of the Kannadigas, is a state in South West India. It was created on 1 November 1956, with the passing of the States Reorganisation Act and this day is annually celebrated as Karnataka Rajyotsava...
, Tamil Nadu
Tamil Nadu
Tamil Nadu is one of the 28 states of India. Its capital and largest city is Chennai. Tamil Nadu lies in the southernmost part of the Indian Peninsula and is bordered by the union territory of Pondicherry, and the states of Kerala, Karnataka, and Andhra Pradesh...
, Andhra Pradesh
Andhra Pradesh
Andhra Pradesh , is one of the 28 states of India, situated on the southeastern coast of India. It is India's fourth largest state by area and fifth largest by population. Its capital and largest city by population is Hyderabad.The total GDP of Andhra Pradesh is $100 billion and is ranked third...
and Kerala
Kerala
or Keralam is an Indian state located on the Malabar coast of south-west India. It was created on 1 November 1956 by the States Reorganisation Act by combining various Malayalam speaking regions....
but it is looking for a pan India presence since the last few years. In 2009, the bank started a brand transformation initiative which included the change of the logo and related branding treatment across all its customer touch-points.
History
Dhanalakshmi Bank Ltd was incorporated on 14th November 1927 by a group of enterprising entrepreneurs at Thrissur city, the "Cultural Capital of Kerala" with a capital of Rs 11,000 and 7 employees. It became a Scheduled Commercial Bank in the year 1977. It has today attained national stature with 275 branches and 456 ATMs spread over the states of Kerala, Tamil NaduTamil Nadu
Tamil Nadu is one of the 28 states of India. Its capital and largest city is Chennai. Tamil Nadu lies in the southernmost part of the Indian Peninsula and is bordered by the union territory of Pondicherry, and the states of Kerala, Karnataka, and Andhra Pradesh...
, Karnataka
Karnataka
Karnataka , the land of the Kannadigas, is a state in South West India. It was created on 1 November 1956, with the passing of the States Reorganisation Act and this day is annually celebrated as Karnataka Rajyotsava...
, Andhra Pradesh
Andhra Pradesh
Andhra Pradesh , is one of the 28 states of India, situated on the southeastern coast of India. It is India's fourth largest state by area and fifth largest by population. Its capital and largest city by population is Hyderabad.The total GDP of Andhra Pradesh is $100 billion and is ranked third...
, Maharashtra
Maharashtra
Maharashtra is a state located in India. It is the second most populous after Uttar Pradesh and third largest state by area in India...
, Gujarat, Delhi
Delhi
Delhi , officially National Capital Territory of Delhi , is the largest metropolis by area and the second-largest by population in India, next to Mumbai. It is the eighth largest metropolis in the world by population with 16,753,265 inhabitants in the Territory at the 2011 Census...
, West Bengal, Madhya Pradesh, Punjab, Uttar Pradesh, Rajastan, Chandigarh, Goa, and Hariyana. Current employee strength is around 4400
Business Overview
Dhanlaxmi Bank has reported a 11.8 per cent rise in net profit at Rs. 26.06 crore in the 12 months ended March 31, 2011, against Rs.23.30 crore, a growth of 11.8 per cent. Total income rose to Rs.1,053.19 crore fromt Rs.625.56 crore. The financial year 2011 was a year for consolidation for the Bank. On all parameters, including important ones such as business growth, net interest margin and NPA control, it was a good year. Net interest margin for the year was around 2.7 per cent.The bank's loan-book witnessed a sharp growth largely on account of a greater thrust on the retail segment and diversification across regions, the release said. The bank's total income increased from Rs 182.40 crore in the quarter ended March 31, 2010 to Rs. 342.2 crore, recording a growth of 87.6 per cent. Non-interest income rose from Rs. 31.9 crore to Rs. 46.1 crore as a result of a focused thrust on fee-based business. The bank’s business growth rates during the year far exceeded that of the banking industry.Dhanlaxmi Bank has deployed technology widely as an instrument for enhancing the quality of customer service. It has introduced Centralised Banking Solution (CBS) on the Flexcube Platform at all its branches for extending anywhere/anytime/anyhow banking to its clientele through multiple delivery channels. The bank has set-up a state-of-the-art Data Centre in Bangalore, to keep the networked system operational round the clock. A Disaster Recovery Centre is also operational at Thrissur
Thrissur
This article is about the city in India. For the district, see Thrissur district. For the urban agglomeration area of Thrissur see Thrissur Metropolitan Area...
for meeting various contingencies.
Name change
The bank has also changed its name from Dhanalakshmi Bank to ‘Dhanlaxmi’ Bank which will have a new corporate identity retaining the core values of trust and heritage built by the bank. FITCH, a leading international branding and design consultancy had designed the new identity for the bank.Partnerships
The Dhanlaxmi Bank has an agreement with Bajaj Alliance Insurance Company Ltd, as their corporate agent. The bank is also a depository participant of NSDL (National Security Depository Limited) offering Demat services through select branches. Bank is offering Online trading in association with Destimoney securities. It has partnered AGS Infotech for installation of ATMs. It offers VISA branded debit and credit cards to customers.Credit cards
In March, 2010, the bank launched Dhanlaxmi Bank Platinum and Gold Credit cards. The bank for the first time in India is introducing a ‘Pay by Transaction’ billing mode for credit cards. Under this, instead of a monthly billing cycle, the interest-free credit period is considered for individual transactions from the day of purchase. A customer thus enjoys a 45-day interest-free credit period on each purchase and does not need to time the purchase based on the billing cycle.And the service provider for credit card business is Insolutions Global Pvt.Ltd(ISG),ISG’s range of end to end solutions span debit card, credit card, web designing, issuance management, satellite solutions, acquiring management, payment & settlement management. ISG commenced operations in 1988, is a pioneer in the payment card industryPayment card industry
The payment card industry denotes the debit, credit, prepaid, e-purse, ATM, and POS cards and associated businesses.The term is sometimes more specifically used to refer to the Payment Card Industry Security Standards Council, a council originally formed by American Express, Discover Financial...
in India. The company, headquarters in Mumbai, has become a commander & preferred solutions provider for bankers in India and Overseas.
ISG influence its domain knowledge in payment processing & skilled software development talent to specific compliance and other requirements of various types of organizations including Public Sector Banks, Private Banks, Foreign Banks, International Banks, Cooperative Banks and Non-Banking Finance Companies in world wide. ISG takes pride in building strategic long term relationships.